ACG Air Cargo Germany’s insolvency administrator has suffered a legal setback after the Braunschweig Regional Court ruled against its $147.6 million lawsuit against the Federal Aviation Office. The case centered on the carrier’s claim for damages following the suspension of its operating license, which it argued led to financial losses and insolvency.
Aeroitalia Regiona, a regional airline based in Romania, has officially been declared insolvent by the Bucharest Court. This development marks a significant financial setback for the carrier, which has faced increasing challenges in maintaining its operations.
Jet Airways (India) has entered a new phase in its liquidation process with the appointment of Satish Kumar Gupta as its liquidator. The decision was made by the National Company Law Tribunal (NCLT) following a Supreme Court order that permits the sale of the grounded airline.
Go First (India) has reached a significant milestone in its bankruptcy proceedings, with the committee of creditorsapproving Dinkar Venkatasubramanian as the liquidator. This decision is expected to guide the airline’s resolution process, ensuring compliance with legal and financial frameworks.
SpiceJet (India) is grappling with two additional insolvency petitions filed at the National Company Law Tribunal (NCLT). The claims have been lodged by Sabarmati Aviation (Ireland) and JetAir 17 (Ireland), intensifying the financial challenges faced by the Indian low-cost carrier.
Rhein-Neckar Air, a regional airline based in Mannheim, Germany, has filed for insolvency, citing significant financial challenges. The airline, known for connecting the Rhine-Neckar metropolitan region with destinations such as Berlin and Hamburg, has suspended all operations as of November 1, 2024.
